We are moving towards a post consumption society. We are heading from the Experience economy right into the Transformational economy. Successful brands in this new era are providing experiences that circles around becoming a better version of yourself. And at the same time contributing to a better society.
I’m joining a discussion with Tad Greenough, Bill Mehleisen and Nils von Heine about what has been the success behind Nike and other ”transformational” brands. Tad was recently Global brand director of Nike, and have now joined The Absolut Company in a similar position. It’s obvious that there are new game rules for marketing, product development and business models. It’s also obvious that most companies is having a hard time to adapt to them. Here is what you need to know and what you need to practice to succeed in the Transformation Economy.
The conclusion why the big shift is happening:
Items are no longer the status symbols they used to be to us. Instead it’s what we do with our lives that matters.
We have discovered that consumption in itself doesn’t create value for us.
We have insights and willingness to change ourselves and the world to the better.
We want to be part in an experience bigger than ourselves.
If you want to succeed in the Transformational Economy you need to:
Look at your company as a supporter of peoples transformational experiences.
Be a transformational leader, encouraging both shareholders and employees in this new way of thinking.
Find new kinds of targets that is not about maximizing short term income.
Master "the art of designing meaningful experiences”. (That happens to be the subtitle of our new book, The English version of "Jakten på känslan". Coming soon… )
Your customer is a potential butterfly ready to transform.